Commnr. Of Central Excise, Indore vs M/S. Grasim Industries Ltd

The Supreme Court ruled that the amended Section 4 of the Central Excise Act, 1944, which introduced the concept of 'transaction value', does not alter the principle established in Collector of Central Excise, Madras Vs. M/s Indian Oxygen Ltd. (1988) 4 SCC 139. The Court held that charges collected by manufacturers for containers and canisters used in the supply of gases should not be included in the assessable value for excise duty determination under Section 4. Consequently, the appeals by the Revenue were dismissed, affirming the Tribunal's decision.